Guilty verdicts were reached this morning for four of the five defendants in the Norfolk, Virginia, Bank of Commonwealth fraud trial.

From Channel 10, Norfolk;

“The jury found former CEO Edward Woodard, Jr. guilty of conspiracy to commit bank fraud, bank fraud, false entry in a bank record, unlawful participation in a loan and false statement to a financial institution. His son Brandon was found guilty of conspiracy to commit bank fraud and unlawful participation in a loan.

“Stephen Fields was found guilty of conspiracy to commit bank fraud, false entry in a bank record, false statement to a financial institution and misapplication of bank funds.

“Borrower Dwight Etheridge was found guilty of conspiracy to commit bank fraud, misapplication of bank funds and false statement to a financial institution.

“Simon Hounslow was the only defendant found not guilty.

“Prosecutors claimed the defendants turned the Bank of the Commonwealth into a criminal enterprise costing the bank $71 million.”